No Deal On Nevada Budget

Nevada Budget Crisis
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The Nevada legislature adjourned Sunday night., but still no tax plan to fund the $859 million budget shortfall.

Senate Bill 496, which allows Washoe County Commissioners to enforce a 2-percent sales tax on rental cars, passed the Senate. That bill is expected to fund a triple-A baseball stadium at possibly the Sparks Marina.

There was also movement on a bill that restores the voting rights of first-offense ex-felons, who served time for nonviolent crimes.

But, no overall tax package was reached by the legislature.

It was a hurry up and wait kind of day for Republicans and Democrats.
Legislators were in and out meetings.

Floor sessions were pushed back a couple times, as privately in committees both sides tried to come up with a list of taxes that would solve Nevada's $859 million budget shortfall.

Optimisim turned to confusion as both the Senate and the Assembly adjourned for the night. Legislators would only say they would meet on the floor at 10 a.m. today for a possible vote.

Republicans and Democrats say the sticking point seems to be a big business tax, which would make sure banks and corporations were taxed proportionately.

Assembly Democrats say no tax package will be approved by the governor without this component.

All parties are confident a deal will be reached by Monday at midnight. Monday concludes the 120-day deadline the legislature has to finish all its business.

Otherwise, the governor can call a special session. If lawmakers run out of time, Governor Guinn could then immediately call a special session to work out the tax plan.

Both houses are proposing a record $880 million tax increases.

The compromise tax package will need a two-thirds vote of all senators and Assembly members.

Stay with KOLO Newschannel 8 for continuing coverage of the end of the 2003 legislative session.